Ethiopia boosts digital financial services with its first virtual Visa card.

Ethio Telecom, working together with Visa Inc., has launched Ethiopia's first wallet-based virtual Visa Card, as well as services to improve remittances via Visa Direct and the Telebirr Remit App.

The agreement, inked by Ethio Telecom and Visa Inc., is an essential move toward expanding Ethiopia's digital banking service, according to the telco.

It said the new services include the virtual Visa Card, which can be accessed through Telebirr, and Visa Direct, which enables Visa cardholders globally to send funds to Ethiopia using their Telebirr virtual card number.

This service allows people and institutions to send money from over 190 countries, said Ethio Telecom.

To receive funds using Visa Direct, customers must first register for the Virtual Visa service in the Telebirr SuperApp and share their 16-digit card information with the sender.

The company said this development is expected to broaden Ethiopia's digital financial ecosystem by enabling online cross-border payments, including for e-commerce, and to contribute to the country's transition to a cashless society.